Dienstag, 25. August 2015

Sommerreihe / Teil 8

Wir möchten auf zwei neue Artikel unseres Berliner Dozenten Dr. Joachim Kaldasch aufmerksam machen. Beide sind open source und wurden in der Zeitschrift British Journal of Economics, Management & Trade veröffentlicht.

Dynamic Model of the Price Dispersion of Homogeneous Goods 
Joachim Kaldasch, British Journal of Economics, Management & Trade, Vol.: 8, Issue.: 2, Page 120-131

Abstract: Presented is an analytic microeconomic model of the temporal price dispersion of homogeneous goods in polypoly markets. This new approach is based on the idea that the price dispersion has its origin in the dynamics of the purchase process. The price dispersion is determined by the chance that demanded and supplied product units meet in a given price interval. It can be characterized by a fat-tailed Laplace distribution for short and by a lognormal distribution for long time horizons. Taking random temporal variations of demanded and supplied units into account both the mean price and also the standard deviation of the price dispersion are governed by a lognormal distribution. A comparison with empirical investigations confirms the model statements.

Link to full article: http://sciencedomain.org/abstract/9353 

Dynamic Model of Markets of Homogenous Non-durables, Joachim Kaldasch, British Journal of Economics, Management & Trade, Vol.: 9, Issue.: 3, Page 1-12

Abstract: A new microeconomic model is presented that aims at a description of the long-term unit sales and price evolution of homogeneous non-durable goods in polypoly markets. It merges the product lifecycle approach with the price dispersion dynamics of homogeneous goods. The model predicts a minimum critical lifetime of non-durables in order to survive. Under the condition that the supply side of the market evolves much faster than the demand side the theory suggests that unsatisfied demands are present in the first stages of the lifecycle. With the growth of production capacities these demands disappear accompanied with a logistic decrease of the mean price of the good. The model is applied to electricity as a non-durable satisfying the model condition. The presented theory allows a deeper understanding of the sales and price dynamics of non-durables.

Link to full article: http://sciencedomain.org/abstract/10258

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